guaranty
4
8.2
- noun
- /ˈɡɛrənˌti/
- Formal
:
garantía
- With claims now in the hands of state insurance guaranty funds, plaintiffs may be subject to additional setbacks and maneuverings that could force them to settle for lower recoveries.
- guaranty fund
- state guaranty
Examples
-
Defense lawyers seeking to represent P*I*E-insured doctors also must be appointed and paid by the guaranty funds.
Academic text (1998) -
And virtually all property and casualty policyholders, who provide the seed money to support the guaranty funds, can expect increased costs to be passed on to them.
Academic text (1998) -
The power of the national government is limited to the enforcement of this guaranty.
Academic text (2017) -
Many times they have already been asked by the nursing home administrator to sign a personal guaranty.
Blog text (33) -
If an insurer were to fail, regardless of size, state-based guaranty funds would protect existing policyholders and pay claims.
Blog text (21) -
In Pennsylvania, another state in which P*I*E carried policies, the January collapse of PIC Insurance Group, which once insured 7,000 physicians, has the state guaranty fund dealing simultaneously with two defunct insurers.
Academic text (1998) -
The bank offered a guaranty to ensure that the loan would be repaid even if the borrower could not pay.
-
Before signing the contract, she requested a guaranty from her business partner for their shared investment.
-
Investors usually seek a guaranty before committing money to a new startup to protect their interests.
Synonyms
169
3.5
A promise by someone to pay a debt if another person fails
103
3.4
A firm promise to do or not do something
1
7.7
A promise by another company to pay the client if a contract is not fulfilled
Antonyms
- Formal
2
8.1
A public statement saying you have no knowledge of or connection to something
How Binding
Surface Forms
Etymology
Guaranty comes from an old French word garant, meaning 'protector' or 'one who promises', and is related to the English words warrant and warranty. So a guaranty is a promise to 'stand behind' someone and pay or take responsibility if they cannot.